Analysts Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Target Price at $41.29

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $41.29.

Several research firms have recently weighed in on EWTX. Wedbush raised their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective on the stock. Evercore ISI increased their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Finally, Truist Financial boosted their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th.

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, CEO Kevin Koch sold 8,636 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total transaction of $259,339.08. Following the transaction, the chief executive officer now owns 14,478 shares in the company, valued at $434,774.34. This trade represents a 37.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alan J. Russell sold 1,200 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the sale, the insider now owns 14,863 shares of the company’s stock, valued at $447,822.19. The trade was a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,545 shares of company stock worth $4,605,305 over the last three months. Corporate insiders own 24.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EWTX. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after purchasing an additional 604 shares during the last quarter. Meeder Asset Management Inc. increased its position in Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after buying an additional 1,361 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Edgewise Therapeutics during the third quarter worth approximately $161,000. US Bancorp DE boosted its position in shares of Edgewise Therapeutics by 12,452.9% in the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock valued at $228,000 after acquiring an additional 8,468 shares during the period. Finally, Quest Partners LLC grew its stake in shares of Edgewise Therapeutics by 418.7% in the third quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock worth $241,000 after acquiring an additional 7,293 shares during the last quarter.

Edgewise Therapeutics Trading Down 8.1 %

NASDAQ:EWTX opened at $26.37 on Wednesday. The company has a 50-day moving average of $28.44 and a 200-day moving average of $26.72. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -17.58 and a beta of 0.20. Edgewise Therapeutics has a twelve month low of $14.90 and a twelve month high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. On average, research analysts forecast that Edgewise Therapeutics will post -1.45 earnings per share for the current year.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.